A panel session highlighting investment projects in the transportation system and the ambitious "New Tashkent" initiative took place at the Tashkent International Investment Forum (TIIF-2024). The session, titled "Investment projects in infrastructure," shed light on Uzbekistan's strides in enhancing its road, rail, and air infrastructure, with the aim of fostering trade, stimulating the local economy, and generating employment opportunities.
Six investment projects, predominantly based on public-private partnerships, were deliberated upon during the session, with a collective estimated investment of $18bn. These projects primarily focus on the construction of roads, railroads, and the Urgench airport concession.
One of the focal points of discussion was the groundbreaking "New Tashkent" project, greenlit by the Uzbekistan president in 2024. This visionary project aims to transform 6,000 hectares of land into a modern urban space capable of accommodating approximately 1 mn residents. The inaugural phase of the project is slated to involve the construction of vital infrastructures such as apartment buildings, educational institutions, healthcare facilities, and more.
The session also delved into the underlying factors contributing to the investment appeal of such infrastructure projects, emphasizing their profound impact on Uzbekistan's economy. Speakers highlighted the pivotal role of transportation infrastructure in facilitating economic growth, enhancing production efficiency, and ensuring accessibility to essential services for rural communities.
Moderated by Ankit Chaturvedi from Synergy Consulting Infrastructure and Financial Advisory., the panel featured key figures such as Jasurbek Choriev, Deputy Minister of Transport of Uzbekistan, and Bakhrom Rizaev, Deputy Director of the "New Tashkent" Directorate.
Choriev underscored the significance of investing in transportation systems, elucidating how such investments drive economic growth by facilitating trade, connecting businesses to markets, and fostering job creation. He also provided updates on ongoing projects, including the imminent completion of the Tashkent-Andijan toll road, aimed at bolstering connectivity between Tashkent and other regions.
“By the end of June, we will complete feasibility work. The new toll road will help connect Tashkent and other regions with the Fergana Valley. The total length of the project will be 314 kilometers and its cost will be $4.65bn," Jasurbek Choriev voiced
Furthermore, attention was drawn to transformative transnational endeavors such as the trans-Afghan railroad, poised to link Uzbekistan, Afghanistan, and Pakistan, thereby enhancing regional connectivity and trade efficiency.
“The project will help link three countries-Uzbekistan, Afghanistan and Pakistan. The railroad plays an important role in creating a Eurasian transportation corridor. As a result, Central Asian countries will have access to the Indian Ocean port. The railroad reduces the delivery time of goods from 35 to 5 days. And the cost of goods delivery will be reduced by at least 40%. The project is expected to be completed by the end of 2027,” Choriev noted.
The construction of the China-Kyrgyzstan-Uzbekistan railroad was also spotlighted as a pivotal initiative set to catalyze development across Central Asia.
Bakhrom Rizaev shared preliminary insights into the "New Tashkent" project, outlining plans for the construction of essential governmental, educational, and cultural infrastructures in the burgeoning city.
The session concluded with a comprehensive discussion on the challenges and opportunities associated with these transformative projects, underscoring Uzbekistan's steadfast commitment to advancing its infrastructure landscape in alignment with its broader socio-economic objectives.
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